Sony slashes price of PlayStation Vita gaming console .... in Japan

Sony announced on Monday that it was lowering the price on its flagship handheld gaming console, PlayStation Vita, by as as much as one-third - a step that could suggest the below-par performance of the product on its home turf.

The Japan based consumer electronic goods maker confirmed that prices of both the 3G and Wi-Fi variants of the console will be slashed by as much as a third from 28 Feb.

Both these devices will now be available for just under £140 (24,980 Yen). That's around one-third less than the current suggested retail price of of the PS Vita 3G (£210) and a 20 per cent discount compared to the PS Vita Wi-Fi.

There is more to cheer for if you are PS Vita owner in Japan. Sony confirmed that all the owners of the device in the country's will be rewarded a week worth free PS Plus access.

However, the company refrained from disclosing whether or not it intends to introduce similar price cut for the PS Vita in other markets. Some experts believe that Sony may have saved the news until Wednesday when it will be hosting an event in New York city.